Northeast Bank (NBN) Company Overview

Northeast Bank (NASDAQ:NBN ) Q2 2025 Earnings Conference Call February 7, 2025 10:00 AM ET Company Participants Richard Wayne - President and Chief Executive Officer Richard Cohen - Chief Financial Officer Patrick Dignan - Chief Operating Officer Conference Call Participants Mark Fitzgibbon - Piper Sandler & Co. Damon DelMonte - Keefe, Bruyette, & Woods, Inc. Operator Welcome to the Northeast Bank Second Quarter Fiscal Year 2025 Earnings Call. My name is Didi, and I will be your operator for today's call.

PORTLAND, Maine, Feb. 06, 2025 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $22.4 million, or $2.74 per diluted common share, for the quarter ended December 31, 2024, compared to net income of $14.1 million, or $1.85 per diluted common share, for the quarter ended December 31, 2023. Net income for the six months ended December 31, 2024 was $39.5 million, or $4.85 per diluted common share, compared to $29.2 million, or $3.86 per diluted common share, for the six months ended December 31, 2023.

Northeast Bank, with a $750M market cap, delivers high teens ROE and trades at 1.9x book value, yet expects stronger results in 2025. The bank's growth is driven by book value accretion, efficient operations, and negligible credit losses, leading to high valuation multiples. Catalysts include ramped-up SBA lending, recent large Purchased Loans, and potential regulatory tailwinds, boosting EPS and valuation.

PORTLAND, Maine, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that it has entered into an equity distribution agreement with Piper Sandler & Co. (“Piper Sandler”) and Keefe, Bruyette & Woods, Inc. (“KBW”) for the offer and sale from time to time of shares of its voting common stock having an aggregate offering price of up to $75,000,000.00 (the “Shares”) in an at-the-market offering. All of the Shares to be sold in the offering will be offered by the Bank.

Northeast Bank (NASDAQ:NBN ) Q1 2025 Results Earnings Conference Call October 30, 2024 10:00 AM ET Company Participants Richard Wayne - President and Chief Executive Officer Patrick Dignan - Chief Operating Officer Richard Cohen - Chief Financial Officer Rebecca Rand - Senior Vice President, Director of Accounting Conference Call Participants Mark Fitzgibbon - Piper Sandler David Minkoff - DCM Asset Management Adam Wilkie - Pacific Ridge Capital Partners Operator Welcome to the Northeast Bank First Quarter FY 2025 Earnings Call. My name is Brie, and I will be your operator for today's call.

PORTLAND, Maine, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $17.1 million, or $2.11 per diluted common share, for the quarter ended September 30, 2024, compared to net income of $15.2 million, or $2.01 per diluted common share, for the quarter ended September 30, 2023.

PORTLAND, Maine, Sept. 24, 2024 (GLOBE NEWSWIRE) --  Northeast Bank (the “Bank”) (NASDAQ: NBN) announced today that since June 30, 2024, the Bank has purchased primarily commercial real estate loans in the amount of unpaid principal balance of $805 million. Because the purchases closed primarily late in the quarter, there will be minimal impact on earnings for the first fiscal quarter of 2025. The Bank has funded and intends to fund the purchase of these loans primarily relying on brokered deposits and Federal Home Loan Bank advances.

Northeast Bank (NASDAQ:NBN ) Q4 2024 Earnings Conference Call August 1, 2024 10:00 AM ET Company Participants Richard Wayne - President, CEO & Director Richard Cohen - CFO Patrick Dignan - COO & EVP Conference Call Participants David Minkoff - DCM Asset Management Operator Welcome to the Northeast Bank Fourth Quarter Fiscal Year 2024 Earnings Call. My name is Steven, and I will be your operator for today's call.

PORTLAND, Maine, July 29, 2024 (GLOBE NEWSWIRE) -- Northeast Bank (the “Bank”) (NASDAQ: NBN), a Maine-based full-service bank, today reported net income of $15.1 million, or $1.91 per diluted common share, for the quarter ended June 30, 2024, compared to net income of $12.1 million, or $1.61 per diluted common share, for the quarter ended June 30, 2023. Net income for the year ended June 30, 2024 was $58.2 million, or $7.58 per diluted common share, compared to $44.2 million, or $5.96 per diluted common share, for the year ended June 30, 2023.